ViewRay (VRAY) Misses Q3 EPS by 15c, Slight Miss on Revenues; Offers FY18 Revenue Outlook Below Consensus

ViewRay (NASDAQ: VRAY) reported Q3 EPS of ($0.39), $0.15 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $17.7 million versus the consensus estimate of $17.8 million.

• Total revenue of $17.7 million, primarily from 3 revenue units.
• Received new orders for MRIdian systems totaling $36.2 million. The backlog as of September 30, 2018 was $200.9 million.
• The Company raised net proceeds of $161.9 million during the quarter from a common stock public offering.

"We have a tremendous opportunity to become the standard of care in radiation oncology. During the third quarter we made significant progress building our team and processes to capitalize, and much work lies ahead," said Scott Drake, President and CEO.

GUIDANCE:

ViewRay sees FY2018 revenue of $80 million, versus the consensus of $86.55 million.

For earnings history and earnings-related data on ViewRay (VRAY) click here.

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